Albemarle Corporation (ALB) Stock Performance: Recent Trends and Earnings Estimates

Albemarle Corporation (ALB) stock has returned +1% over the past month, compared to the Zacks S&P 500 composite's +0.6% change. The company is expected to post a loss of $0.68 per share for the current quarter, a year-over-year change of +56.1%. However, the consensus earnings estimate for the current fiscal year is -$2.22, a year-over-year change of +5.1%. The Zacks Rank for Albemarle is #4 (Sell), based on the recent change in the consensus estimate and other factors related to earnings estimates.

Albemarle Corporation (ALB) has seen its stock return +1% over the past month, slightly outperforming the Zacks S&P 500 composite's +0.6% change. The specialty chemicals company is expected to post a loss of $0.68 per share for the current quarter, representing a year-over-year change of +56.1% [1]. However, the consensus earnings estimate for the current fiscal year is -$2.22, a year-over-year change of +5.1%.

The Zacks Rank for Albemarle is #4 (Sell), indicating that the company may underperform the broader market in the near term. This ranking is based on recent changes in the consensus earnings estimate and other factors related to earnings estimates. The Zacks Rank system is a proprietary tool that effectively harnesses the power of earnings estimate revisions to predict a stock's near-term price performance [1].

Albemarle reported revenues of $1.33 billion in the last reported quarter, surpassing the Zacks Consensus Estimate by 6.98%. This compares to year-ago revenues of $1.43 billion. The company has topped consensus revenue estimates just once over the last four quarters [2].

Looking ahead, the consensus EPS estimate for the coming quarter is -$0.60 on $1.26 billion in revenues, and for the current fiscal year, it is -$2.24 on $4.85 billion in revenues. The Zacks Industry Rank for the Chemical - Diversified sector, to which Albemarle belongs, is currently in the bottom 5% of the 250 plus Zacks industries [2].

The sustainability of Albemarle's immediate price movement will depend on management's commentary on the earnings call. Investors should keep an eye on the company's earnings outlook and how the estimates for the coming quarters and the current fiscal year change in the days ahead.

References:
[1] https://finance.yahoo.com/news/trending-stock-albemarle-corporation-alb-130003270.html
[2] https://finance.yahoo.com/news/albemarle-alb-q2-earnings-revenues-213001925.html